Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Earlier this week, the Ontario government announced in Sudbury that it is providing more than C$7.9 million to support the mining and forestry sectors in the northeast region of the province. Minister of Northern Development, Mines, Natural resources and Forestry Greg Rickford made the announcement.
Some of the mining sector grants that were made include: C$1 million to McDowell Brothers Industries toward a new manufacturing plant; C$500,000 to Ionic Mechatronics for building expansion as it commercializes an energy isolation system; C$500,000 to Symboticware to market its data management and analysis technology; C$400,000 to B&R Rubber Services to purchase a new plant; C$400,000; to Salto Heat Treating to establish a new facility to treat metal fabricated products; C$554,870 to HLS Hard-Line Solutions to help develop an automated rock breaker; C$298,513 to Sudbury Lime to help build a second plant; C$185,185 to Lessard Welding for new equipment; and C$179,924 to City Welding Sudbury for new equipment.
The funding will be delivered through the Northern Ontario Heritage Fund Corporation.
(This article first appeared in the Canadian Mining Journal)
